Drake places $500,000 bet on Edmonton Oilers to win Stanley Cup

Toronto-born performer Aubrey "Drake" Graham cheers from courtside during first half NBA Eastern Conference finals action between the Toronto Raptors and the Milwaukee Bucks, in Toronto on Saturday, May 25, 2019. THE CANADIAN PRESS/Nathan Denette

Canadian rap star Drake has placed a $500,000 bet on the Edmonton Oilers to win the Stanley Cup.

Drake posted a screenshot on Wednesday of the bet placed with gambling website Stake on his Instagram account with the caption "Oilers are self-explanatory."

He also bet on the Dallas Mavericks to win the NBA title.

If both bets come through, he will get a payout of $2.4 million.

Drake often posts screenshots of his big-money bets on Instagram.

He has been hit-and-miss of late. In January, he lost a $700,000 bet on Sean Strickland to defeat Dricus du Plessis at UFC 297 in Toronto.

A month later he pocketed nearly $1.2 million betting on the Kansas City Chiefs to win the Super Bowl.

The Stanley Cup final between the Oilers and the Panthers starts Saturday in Sunrise, Fla.